With an estimated net worth of $500 million (R7,5 billion), Queen Elizabeth II and her family have multiple streams of income, both public and private, CNN Money reports.
According to Business Insider, it costs around R5,4 billion a year to run the British monarchy.
SO HERE’S HOW THE ROYALS EARN THEIR KEEP:
Every year the queen receives the Sovereign Grant from the government which is funded by taxpayers. It covers travelling costs, security, staff and the upkeep of royal palaces.
Prince Charles and his wife Camilla rely on both public and private funds. More than 90% of their income comes from a private estate called the Duchy of Cornwall, which owns and operates land in rural and urban areas, a collection of islands and rental cottages.
According to POPSUGAR, the queen receives an undisclosed amount annually from inherited private estates. This includes Balmoral Castle and other properties. The royal family’s website states that this inheritance came from the queen’s father, King George VI.
Her Majesty was today met by Corporal Cruachan IV, Shetland pony and mascot of @theroyalregimentofscotland, as she arrived at Balmoral Castle, Aberdeenshire. Soldiers from 5 SCOTS and Pipes and Drums from 4 SCOTS welcomed The Queen today and will continue to provide a Royal Guard throughout her time at the Castle this summer. Swipe ➡️ to see Her Majesty inspect the Guard of Honour this afternoon!
A post shared by The Royal Family (@theroyalfamily) on Aug 6, 2019 at 11:33am PDT
Another source of royal income is The Privy Purse which comes through The Duchy of Lancaster. The Duchy of Lancaster consists of land and other assets that have been in the royal family for centuries. The Privy Purse is the total income generated from those properties.